NEU-ISENBURG, Germany (Jan. 7, 2014) — Hankook Tire Co. Ltd. has promoted Ho-Youl Pae, senior vice president, to chief operation officer and head of its European business unit.
Mr. Pae, 55, succeeds Jin-Wook Choi, who returns to Hankook’s global headquarters in an advisory role. Mr. Pae brings more than 28 years of tire industry experience, including managing sales operations for 15 years spent at Hankook Tire regional offices in Germany, Belgium and the U.S., as well as more than seven years at top management positions, Hankook said.
In particular, during his tenure at Hankook Germany and the European headquarters in 1989-96, Mr. Pae accumulated vast understanding and knowledge about the European automotive market and contributed greatly to the company’s business growth in the region, Hankook said.
Mr. Pae also played a role in driving Hankook’s brand equity in the American region through various marketing efforts and activities as a marketing team manager and chief operating officer at Hankook Tire America.
Regarding his new position, Mr. Pae said the tire maker “will continue to focus our efforts on informing consumers about Hankook’s innovative, technologically advanced and environmental friendly tires engineered and made in Europe for European drivers, thus further increasing awareness and image of the Hankook brand on the European continent.”
He also noted Hankook’s growing role as an OE supplier to European marques such as BMW and Mercedes-Benz.
Among Mr. Choi’s accomplishments during his tenure in Europe was overseeing expansion of Hankook’s tire plant in Hungary.
How have tire prices been in the last few months?
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